On January 17, 1961, in this farewell address, President Dwight Eisenhower warned against the establishment of a "military-industrial complex."

In a speech of less than 10 minutes, on January 17, 1961, President Dwight Eisenhower
delivered his political farewell to the American people on national television
from the Oval Office of the White House. Those who expected the military leader
and hero of World War II to depart his Presidency with a nostalgic, "old
soldier" speech like Gen. Douglas MacArthur's, were surprised at his strong
warnings about the dangers of the "military-industrial complex." As
President of the United States for two terms, Eisenhower had slowed the push for
increased defense spending despite pressure to build more military equipment during
the Cold War’s arms race. Nonetheless, the American military services and
the defense industry had expanded a great deal in the 1950s. Eisenhower thought
this growth was needed to counter the Soviet Union, but it confounded him. Through
he did not say so explicitly, his standing as a military leader helped give him
the credibility to stand up to the pressures of this new, powerful interest group.
He eventually described it as a necessary evil.

A vital element in keeping the peace is our military establishment. Our arms
must be might, ready for instant action, so that no potential aggressor may
be tempted to risk his own destruction. . . . American makers of plowshares
could, with time and as required, make swords as well. But now we can no longer
risk emergency improvisation of national defense; we have been compelled to
create a permanent armaments industry of vast proportions. . . . This conjunction
of an immense military establishment and a large arms industry is new in the
American experience. . . .Yet we must not fail to comprehend its grave implications.
. . . In the councils of government, we must guard against the acquisition
of unwarranted influence, whether sought or unsought, by the military-industrial
complex. The potential for the disastrous rise of misplaced power exists and
will persist.

The end of Eisenhower’s term as President not only marked the end of
the 1950s but also the end of an era in government. A new, younger generation
was rising to national power that would set a more youthful, vigorous course.
His farewell address was a warning to his successors of one of the many things
they would have to be wary of in the coming years.